Notice Of Withdrawal From Partnership

Sender's Information

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date and Recipient

{{date}}

To: The Partners of {{partnership_name}}

{{partnership_address}}

Subject

NOTICE OF WITHDRAWAL FROM PARTNERSHIP

Declaration of Withdrawal

I, {{withdrawing_partner_name}}, residing at {{withdrawing_partner_address}}, hereby provide formal notice of my intention to withdraw from the partnership known as {{partnership_name}}, effective {{effective_date_of_withdrawal}}.

Partnership Agreement Reference

This withdrawal is executed in accordance with the terms and conditions stipulated in the Partnership Agreement dated {{partnership_agreement_date}}, specifically Clause(s) {{relevant_clauses_of_agreement}} pertaining to partner withdrawal.

Financial Implications and Dissolution

I request that all necessary steps be taken to determine my capital account balance, share of profits/losses, and any other financial entitlements or obligations as of the effective date of withdrawal. I understand that the partnership will take the necessary steps to settle all outstanding matters as per the Partnership Agreement.

I propose the following schedule for the valuation of my partnership interest and the settlement of my capital account: {{proposed_settlement_schedule}}.

Continuity of Business

I confirm my commitment to cooperate with the remaining partners to ensure a smooth transition and minimise disruption to the partnership's operations during this period. I will fulfill all my obligations under the Partnership Agreement until the effective date of withdrawal.

Return of Partnership Property

I undertake to return all partnership property, documents, and records in my possession or control by the effective date of withdrawal, or as otherwise agreed upon with the remaining partners.

Confidentiality and Non-Competition

I acknowledge and agree to abide by the confidentiality and non-competition clauses as outlined in the Partnership Agreement, which shall remain in full force and effect after my withdrawal from the partnership.

Formal Request

Please provide me with a written acknowledgment of this notice and initiate the procedures for my withdrawal as stipulated in the Partnership Agreement.

Signature

Sincerely,

_____________________________

{{withdrawing_partner_name}}

{{withdrawing_partner_ID_number}}